A hypothesis guaranteeing the weak weak axiom

The Weak Weak Axiom (WWA) for the aggregate excess demand function ensures uniqueness of equilibrium in regular economies. Jerison (1999) shows that the WWA holds if the excess demand satisfies the hypothesis of Nondecreasing Dispersion of Excess Demand (NDED). This note offers a new hypothesis guaranteeing that the WWA holds and suggests a new way for obtaining supporting empirical evidence.

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Year of publication:	2005-01
Authors:	Brighi, Luigi ; John, Reinhard
Institutions:	Dipartimento di Economia "Marco Biagi", Università degli Studi di Modena e Reggio Emilia
Subject:	Weak axiom of revealed preference \| Nondecreasing dispersion of excess demand \| Uniqueness of equilibrium

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Extent:	application/pdf
Series:	Department of Economics.
Type of publication:	Book / Working Paper
Language:	English
Notes:	pages 11
Classification:	D5 - General Equilibrium and Disequilibrium
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008517808